EXCEL FORCE MSC BERHAD Annual Report 2020

EXCEL FORCE MSC BERHAD - ANNUAL REPORT 2020 50 Group Company 2020 2019 2020 2019 Note RM RM RM RM ASSETS Non-current assets Property, plant and equipment 4 2,524,661 2,490,779 2,221,618 2,488,082 Capital work-in-progress 5 - - - - Right-of-use assets 6 20,760,079 20,096,917 20,760,079 20,096,917 Product development costs 7 11,931,476 11,318,098 10,935,265 10,235,455 Intangible assets 8 - - - - Investment in subsidiary companies 9 - - 500,005 500,003 Other investments 10 13,042,200 13,703,850 13,042,200 13,703,850 48,258,416 47,609,644 47,459,167 47,024,307 Current assets Inventories 11 23,992 23,992 23,992 23,992 Trade receivables 12 5,847,912 5,348,287 5,670,613 5,142,026 Other receivables 13 25,405,881 25,658,592 25,463,574 25,639,761 Amount due from subsidiary companies 14 - - 157,069 763,909 Tax recoverable - 3,840 - - Deposits, cash and bank balances and short-term funds 15 22,853,401 22,789,063 22,125,361 21,729,766 54,131,186 53,823,774 53,440,609 53,299,454 Total assets 102,389,602 101,433,418 100,899,776 100,323,761 EQUITY Share capital 16 89,303,150 89,303,150 89,303,150 89,303,150 Reserves 17 31,117,006 26,606,333 30,589,584 26,430,525 Treasury shares 18 (27,560,666) (19,440,808) (27,560,666) (19,440,808) Total equity 92,859,490 96,468,675 92,332,068 96,292,867 Non-Current Liability Lease liabilities 19 672,117 - 672,117 - 672,117 - 672,117 - LIABILITIES Current liabilities Trade payables 20 281,762 746,293 255,702 720,233 Other payables 21 5,381,988 2,353,750 5,247,666 2,258,432 Contract liabilities 22 1,625,834 1,385,993 824,018 573,522 Lease liabilities 19 333,200 353,091 333,200 353,091 Tax payable 1,235,211 125,616 1,235,005 125,616 8,857,995 4,964,743 7,895,591 4,030,894 Total liabilities 9,530,112 4,964,743 8,567,708 4,030,894 Total equity and liabilities 102,389,602 101,433,418 100,899,776 100,323,761 The accompanying notes form an integral part of the financial statements. STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2020